Economics

The U.S. Administration was drawn into spearheading the Fund’s plan for a credit clampdown
on Third World debtors, which is in no one’s interest.

Documentation: Excerpts from speeches by, and interviews with, U.S. Treasury Secretary Regan, IMF
Director de Larosière, President Reagan, French Finance Minister Delors, a Lazard
Frères partner, Chase Manhattan’s Willard Butcher, and the chairman of the British
Commonwealth.

Documentation: Statements on Federal Reserve policy from leading senators-including Banking Committee
Chairman Jake Garn’s defense of the “independence” of the Fed-and the Teamsters’ letter
of support for the Melcher amendment.